Article Nine' is currently undergoing substantial revision. "[B]ecause secured credit is a trillion-dollar activity," this revision is extraordinarily significant. A focal point of this amendment process is Article Nine's notice-filing system which apprises prospective creditors, and others, of a secured party's interest in a debtor's collateral.' As few would dispute, the notice-filing system, which seeks to cure the "ostensible ownership problem," is in serious need of repair.
Edward S. Adams and Steve H. Nickles,
Amending the Article Nine Filing System to Meet Current Deficiencies,
59 Mo. L. Rev.
Available at: https://scholarship.law.missouri.edu/mlr/vol59/iss4/1